As yen tumbles, Japan's gain isn't South Korea's pain
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South Korea's economic problems aren't made in Japan.
That isn't the way it looks in the two rival exporters' stock markets. Investors convinced that Japan's weakening yen will help its companies claw global market-share back from Korean competitors have bought almost $75 billion worth of Japanese stocks so far this year. Part of that appears to have come at the expense of South Korea, where foreign investors have sold nearly $6 billion of shares.
Japan's benchmark stock index has thus soared 50 percent this year on hopes Prime Minister Shinzo Abe can revive the economy and with it the fortunes of big exporters such as Toyota Motor Corp and Panasonic Corp. Stocks in Seoul have meanwhile stagnated, with Samsung Electronics Co Ltd down around 1 percent.
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